Investors Tool Box

By Doc Schmyz

"Doc what advice can you give me that will help me with investing. What tricks of the trade or inside tidbits can you share with me?? " My response is normally..."What is in your tool box?" Let me explain what this question means exactly

Ok let me define the "tool box" for you and explain the three parts that make it up.

1)In your head tool box: This is all about how your thinking process works when it comes to investing, and more importantly how open minded you are about investing information. Are you willing to think outside the box in order to look at investment opportunities or must the investment fall within a cookie cutter method you having? In your head means you need to read books, articles, partake in discussions, and basically interact with that big grey hunk of goo that is in your skull.

It is about gathering all the info you can in order to be able to think about investing and where it can lead you.

IMPORTANT ELEMENT. While we all know that a zillion books have been written about investing. It is important to understand that you MUST have some knowledge from that book...WHY? Because if you understand what other investors are reading?it actually makes it easier to work with them since you understand where they are getting their basic tactics and understanding from, that helps steer them to the investments THEY are making.

2)Your on-line tool box: Most investors use the web daily. Its a great information source, but most investors also have tunnel vision when they are on the web. we get stuck using a few websites that we think are the best at that will cover all our needs. WRONG answer. This causes a type of blindness I call "INFO INPUT SHUT DOWN".

The answer is very easy it's called the opt in newsletter/update. Here is how it works.

Simply put you create an email address and when you come across a site you think may be a useful reference you join up for the newsletter they email out. They send it to your "Info email account" and you can go thru the emails as you choose. I must warn you however.

Once your on a email list I suggest allowing a few weeks before opting out of it. Just because it doesnt give you the "diamond in the rough" on the first email doesnt mean the newletter your getting is worthless. Newletters to look can originate from RE investment clubs, Blogs, News sites...etc

I avoid most of the "pop up" mailing lists for the simple fact that if the info they offer is any good?someone else is going to share it and it will cause enough of a buzz that you will hear about it. If that the case then go ahead and join it.

The most inportant sites to me are the ones that make the investing game easier. sites that offer me something for free or VERY little cost out of my pocket. Some websites have tools that you just cant wait to try out. (I will admit I have a few sites I visit daily just to play around on and try out the tools they offer) When you find them you will know it...once agian bookmark them.

3) Actual physical tools: these are the tools you can actually touch and use when you?re making offers, inspecting property, or doing any one of the other hundreds of things that a good investor does before making an investment commitment. Most of these tools fit in a small briefcase or shoulder bag. These tools can be anything from flashlights, small inspection tools, to calculators etc. So in a nut shell that is all there is to a tool box.

Thats about it. so go build your toolbox. pdate it often. Use it daily...and happy investing. - 23159

About the Author:

Doc Schmyz has done real estate deals all over the US. He built a free website shares Real estate investing information for all over the US. Find real estate information by state

How to use "Owner Financing" for Real Estate investing

By Doc Schmyz

Owner financing can often produce a winning situation for both the homeowner who is selling the property and for the buyer/investor who is purchasing the property. Owner financing is when a seller is willing to help finance a real estate transaction by creating a loan for the entire purchase if they own the home outright or by creating a loan for part of the purchase when there is already an existing loan on the property.

There are numerous benefits when an owner financed transaction is used. For one, the transaction can proceed more quickly and easily than when conventional financing is used because there are fewer steps involved. For another, the seller is more apt to receive a higher sales price, and the seller will receive payments and interest over a long period of time. There are tax savings realized by selling under this installment plan. Additionally, the buyer will realize savings by avoiding loan fees and lender charges, and the negotiated interest rate will generally be lower than the available interest rates from a commercial lender. Also, for the 20% of prospective homebuyers who cannot qualify for a commercial mortgage loan, owner financing is a wonderful way for them to be able to own the home.

There are a few disadvantages to owner financing to consider. For one, if the buyer defaults on the loan the seller will have to initiate foreclosure proceedings. This can be costly. Of course, after the foreclosure the property can be sold again, an advantage for some owners and a disadvantage for other owners. Also, the interest income generated by the loan will be subject to taxes, which could be a disadvantage to a seller who is in a higher tax bracket. Additionally, the seller does not receive cash for their equity immediately, but rather will receive their equity in installment payments over time. This can be a problem if the seller needed funds to purchase another home.

TIPS: For the seller and the buyer to consider when negotiating an owner financed transaction. The seller should research the buyer's creditworthiness and ask numerous questions to become confident that the buyer can fulfill their obligation. The buyer should provide a written explanation of any problems that appear on their credit report, as well as give a list or personal references. The buyer should research the local housing market and get a home inspection done to identify any major problems. Also, a proof of payment provision should be included in the sales contract so the seller can verify that the new owner is making all insurance and property tax payments.

Owner financing home sales can be a winning situation for both sellers and buyers. It is important however, that both parties do their due diligence in order to reduce possible risks. Owner financing is another tool that every real estate investor should have an understanding of. - 23159

About the Author:

Doc Schmyz has invested all over the US. He built a free website shares Real estate investing information for all over the US. Find real estate information by state

Real Estate Investing For Long Term Gain.

By Doc Schmyz

The real estate market has hit bottom. Prices are being dropped on everything. However this is the best time to be a real estate investor. When you are investing in real estate the market doesn?t matter as much as the price you can buy property at. If you are holding long term then you have to accept the market fluctuations. But if you can buy at the lower end of the cycle that is the best time to buy. The trick is knowing when that is.

When the real estate market is experiencing a downturn it is the best time to buy. Just check the foreclosure lists and auctions. You can pick and choose and buy normally below market value. However, keep an eye on your monthly bottom line. In other words make sure your rental income (from your new investment) equals or exceeds your outgoing including mortgage repayments. If you have other income you may be able to stand an extra $100 or more per month to top up the mortgage but try to avoid it. You will sleep far better at night knowing that the mortgage payments are taken care of.

If the property market is rising you can be confident that the value of your investment is increasing. That is where your profit is and you should be able to sell if necessary. However, that was a few years ago when the market was more positive but now the reality is that the market has dropped and you need to be able to hold long term without any worries. It may take a few years before we hit healthy real estate selling conditions again, let alone a property boom.

Several investors that started during the "boom" now have to change how they are thinking about investing. This is the time when we separate "those who can from those who got lucky and made a few bucks". Now is when the long term hold plans must start becoming the focus. This is a business. You need to do the math. Will your income from your investment cover the expenses/new mortgage?

Having said all that, there is no getting away from the fact that with good research and due diligence the down and depressed market presents serious investors with the best opportunities to build a portfolio of profitable properties for long term gains. - 23159

About the Author:

Doc Schmyz has invested all over the US and Canada. His free website shares Real estate investing information for all over the US. Find real estate information by state

Online Bankruptcy Filing Databases And How To Use Their Interface

By Norman Bush

The most important and used bankruptcy database is the Pacer database used by the federal courts, this database is accessible online for a fee and is particularly of importance to attorneys throughout America who need to file their clients bankruptcy cases online.

Attorneys are very often allowed to file their client's bankruptcy directly online during times when a lot of cases are being filed and processing times are way up.

The Pacer database cannot be accessed by the general public. Anyone seeking to access information held within it must first go through their attorney.

Nevertheless the public can make use of the bankruptcy databases that other companies have assembled. The general public can use these databases to help with their bankruptcy filings and to do research on businesses and more.

Search According To Different Parameters

Bankruptcy databases give you tools that allow you to make queries to their database. You will find that you can search by state, city and even using the first few digits of zip codes.

Another way of searching for data that is normally presented to you is by date, this can include the filing date, data of first meeting, the dismissal date and of course the discharge date.

Then of course you may want to try a search by the type of bankruptcy filed. So you can easily search for bankruptcies that were filed under chapter-, 11 and or 7. In addition you may want to even try a combination.

Just for those who are unclear on this, Chapter 11 is only businesses and you will find that chapter 7 is mostly for businesses too where as chapter- on the other hand is only really for individuals.

What's more, the bankruptcy database also can hold all the relevant information regarding amounts related to assets and liabilities though not every bankruptcy database will hold such information.

Finally, the bankruptcy database will also contain the house addresses and within this you can filter out addresses with regard to certain apartment numbers, PO Boxes as well as those addresses that have number signs in them.

Thus, as you can see, each different bankruptcy database has a lot of information that it contains and which can be accessed entirely or according to specific needs and it will prove to be very helpful under different situations. - 23159

About the Author:

Pacer Bankruptcy Filings are only one thing talked about in this How To File For Bankruptcy archive here.